Vietnam is a lower middle income country which is undergoing a profound transformation from having a centrally led command economy to a far more liberal free-market economy.
Its GNI per capita has increased from 550 US $ in 2005 to 1260 US $ in 2012.
Despite the government’s pro market policies Vietnam’s WB Doing Business overall ranking has stagnated: it was 99th in 2005 as well as in 2012. Nevertheless, starting a business has been made somewhat easier: in 2005 it took 11 procedures and 50 days, as against 10 procedures and 34 days in 2012. Similarly, registering property took 5 procedures and 67 days in 2005, as against 4 procedures and 57 days in 2012. The IMF concludes in its annual report: "Growth prospects remain good as Vietnam transitions to middle-income status, if ..... structural reforms... are implemented."
Vietnam’s employers’ national and international interests are being represented by the Vietnam Chamber of Commerce and Industry (VCCI), member of the International Organisation of Employers. DECP undertook a fact-finding mission to the VCCI and concluded a partnership agreement in 2008. In implementing the agreement DECP has worked mostly with the Vietnam Women Entrepreneurs Council (VWEC) in particular on advocacy and lobbying, on communication both with members and the media, on occupational safety and health and on collective bargaining.